Apple Stock’s Potential Surge: Analyst Calls It a “Sleeping Giant” Fueled by AI Breakthroughs

Key Points

• Wedbush analyst Dan Ives raised his Apple price target to a Street-high $400, up from $350.

• Ives expects Apple’s June developer conference to unveil a significant AI strategy.

• Apple’s Q2 revenue reached over $111 billion, a 17% increase year-over-year, with iPhone revenue rising 22% to $57 billion.

Wedbush analyst Dan Ives has increased his price target for Apple (NASDAQ: AAPL) to $400, the highest among major firms, implying nearly 37% upside from its recent share price of $293. Ives cites the upcoming June developer conference as a pivotal moment for Apple, anticipating the announcement of a comprehensive artificial intelligence (AI) platform that could enhance its user base of over 2.5 billion active devices globally. This move could unlock an additional $15 billion in annual services revenue from AI-driven subscriptions.

In its fiscal Q2 2026, Apple reported more than $111 billion in revenue, a record for the March quarter, with earnings per share increasing by 22%. Notably, revenue from Greater China rose 28%, indicating a revitalization in that key market. The company is also projecting growth of 14% to 17% in the June quarter, bolstered by new product releases designed to enhance AI capabilities.